March 29, 2023

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Emirates News Agency - 116% growth in FDI to Emirates over 10 years

Emirates News Agency – 116% growth in FDI to Emirates over 10 years

ABU DHABI, August 5 / WAM / Foreign direct investment to the UAE has achieved significant growth over the past years, despite the aftermath of the “Covid-19” pandemic, which has cast a shadow over the levels of investment, trade and commerce. World economies.

According to a report by the Ministry of Economy, foreign direct investment into the country increased by 116% in the 10 years from 2012-2021, reaching $20 billion and 667 million dollars in 2021, up from about $9 billion and 566 million. In 2012, the equivalent increase was $11.1 billion.

Inward FDI to the UAE has seen significant growth over the past ten years, reaching $9.764 billion in 2013, $11.071 billion in 2014, $8.55 billion in 2015, $9.604 billion in 2016, and $10.354 billion in 2016. , and $19.884 billion in 2020.

In light of the significant growth in foreign direct investment flows, the country ranks 19th in the world among the top twenty most attractive countries for foreign direct investment flows, and ranks first in inward foreign direct investment flows. At the level of West Asia and at the level of the Middle East and North Africa region and the group of Arab countries.

The overall foreign direct investment stock received by the country during the period from 2011 to 2021 increased by 141.6%, from 71 billion and 20 million dollars to 171 billion and 563 million dollars last year, representing an increase of more than 100.5. Billions of dollars in 11 years.

In the past years, all economic sectors of the country have achieved significant growth in attracting direct investments. According to the Emirates Central Bank, the growth rate in the manufacturing sector is 13% and the health sector is 9%. Information and communication technology sector accounted for 6%, finance, banking and insurance sector 4%, real estate sector 4%, oil and gas sector 3% and services sector 2%. Compared to last year 2020.

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Globally, global foreign direct investment flows reached $1.6 trillion in 2021, a 64% increase compared to 2020, with rapid growth in mergers and acquisitions in international project financing.

In the past year, most developed countries saw an increase in foreign direct investment, with flows to the US doubling to $367 billion, the third-highest level on record since 2015 and 2016.

Flows to developing economies rose 30% to $837 billion, the highest level ever recorded. The increase was driven by strong growth performance in Asia, a modest recovery in Latin America and the Caribbean, and recovery in Africa. Global flows were over 50%.

WAM/ Rami Sami/ Reda Abdel Noor